General
31st December,2022
This includes entire land and buildings, vehicle manufacturing plant
along with machinery and equipment and transfer of all eligible employees of
Ford’s vehicle manufacturing operations at Sanand, for a total consideration,
exclusive of taxes, of Rs725.7 crore. As part of the transaction, all
eligible employees of FIPL’s vehicle manufacturing plant have been offered
employment with TPEML on terms, conditions and benefits of service similar to
those that are currently availed by them, Tata Motors said in the statement.
31st December,2022
Tata Motors shall conclude the buyout of Ford India’s Sanand plant by January
10, 2023, the company said in a notification to the exchanges on Friday. The
Tata Group flagship together with its Tata Passenger Electric Mobility (TPEM)
had executed the so-called unit transfer agreement with Ford India Pvt Ltd
(FIPL) on August 7, 2022 for acquisition of the latter’s manufacturing plant
situated at Sanand, Gujarat.
This includes entire land and buildings, vehicle manufacturing plant
along with machinery and equipment and transfer of all eligible employees of
Ford’s vehicle manufacturing operations at Sanand, for a total consideration,
exclusive of taxes, of Rs725.7 crore. As part of the transaction, all
eligible employees of FIPL’s vehicle manufacturing plant have been offered
employment with TPEML on terms, conditions and benefits of service similar to
those that are currently availed by them, Tata Motors said in the statement.
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